Compare building insurance

Building insurance covers your home structure only, not the contents inside. Learn more about what is covered, what isn’t covered and compare your options.

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Product Finder Score Flood Accidental damage Escape of Liquid
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Our verdict: The most popular insurer on Finder, Budget Direct prioritises low-cost cover and gives you 15% off your first year's premium if you purchase online. You need to pay extra for flood cover and accidental damage.
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Our verdict: Honey gives you $250 smart sensors to reduce accidents and estimates your rebuild costs for you.
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Our verdict: It covers essentials such as fire and theft plus comes with some good perks such as environmental upgrades and up to 10% off your first year.
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Kogan Home Insurance logo
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Our verdict: Get $10 monthly Kogan.com credit (valid on $100+ purchases) with Kogan Home Insurance. T&Cs apply.
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Huddle Home Insurance logo
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Real Home Insurance logo
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Finder Score - Home Insurance

We crunch eligible home insurance products in Australia to see how they stack up. We rank over 50 products on 16 different features, including price. We end up with a single score out of 10 that helps you compare home insurance a bit faster. We assess home and contents, building only and contents only products individually.

Read full Finder Score methodology

What do home building insurance policies cover?

Building insurance protects the physical structure of your property from financial loss. The policies are designed to cover your residential home, including flat units, townhouses, terrace houses and free-standing homes.

While building insurance policies can vary, they'll usually cover these parts of your home too.

  • Garages and carports
  • Sheds
  • Fences, gates and outdoor walls
  • Decks, patios, pergolas and verandahs

When am I covered?

Insurers have a set of defined events where, if they occur, you should be covered. These include:

Flood Storms

Lightning Lightning

Fire Fire

Cyclone Cyclones

Padlock Theft and burglary

Spray paint Vandalism

Pipe leak Water damage/ escape of liquid

Impact damage Impact damage

How much does building insurance cost?

Well, we did some research and found that the cheapest policy was $154 a month.

Premium prices will change based on your individual circumstances, so while our research - from 15 home insurers, says the cheapest policy is $154, that was based on our criteria.

Make sure to get a quote (or multiple), so that you get the best value for your money.

Brand$500,000 Building - Monthly price$500,000 Building - Annual price$1,000,000 Building - Monthly price$1,000,000 Building - Annual priceGet quote
aami home insurance$228.56$2,281.42Unable to get quote
Allianz home insurance$197.21$2,366.55$299.10$3,589.06
Australia post home insuranceUnable to get quote$419.90$4,464.45
Bendigo bank home insurance$222.24$2,666.68Unable to get quote
$244.89$2,368.25$347.15$3,344.82
Coles insurance$256.77$2,486.68$364.60$3,512.06
Everyday Insurance$233.80$2,439.58$384.15$4,008.50
Huddle home insurance$213.18$2,268.50$352.16$3,718.76
Hume Bank home insurance$224.64$2,695.59$341.18$4,094.23
Kogan home insurance$224.64$2,695.59$341.18$4,094.23
NRMA logo$154.03$1,848.16Unable to get quote
Qantas Life Insurance Logo$268.75$2,605.09$381.95$3,679.30
QBE LogoUnable to get quote$432.69$4,607.35
Real insurance logo$222.48$2,321.51$365.57$3,814.57
Australian seniors$195.42$2,039.06$320.93$3,348.75

This is not a full market comparison and there are other providers available.

Learn more about our methodology
  • Quotes were obtained for the same 3-bedroom NSW home in Elizabeth Bay owned by a family of two.
  • Building replacement costs for all quotes were $500,000 and $1,000,000.
  • Excess is $500 if possible depending on insurer.
  • Quotes were obtained in June 2025 and were for a home only insurance policy
  • Homeowning family of two who moved into their property in 2023.
  • Three bedroom, 1 story freestanding house on flat ground with brick veneer walls, terracotta tiled roof, no verandas and built in 1980.
  • Windows secured by deadlocks, with no security devices.

How much cover do I need?

Having the right level of protection in place can save you thousands of dollars in the long run. However, some estimates suggest that as many as 80% of Aussie's are under-insured. Whilst it may seem appealing to cut costs at first, the risk of not having enough cover in place is not worth it.

The building insurance policy you take out should cover the total replacement cost of your property, including other expenses which may arise such as demolition and temporary accommodation. If you're under-insured, you'll have to pay the gap between what your policy covers and the replacement cost for your building, which in many cases could be a substantial amount of money.

To help calculate the cost of what it'd cost to replace your home, you can use a building insurance calculator. While these aren't perfect, it's a good starting point.

FAQs

Peta Taylor's headshot
Written by

Publisher of Insurance

Peta Taylor is a publisher at Finder, working across all of insurance. She's been analysing product disclosure statements and publishing articles for over 2 years. Peta is passionate about demystifying complex insurance products to help users make well educated decisions with confidence. Peta is part of Finder's insurance awards team and works alongside editorial and insights experts to bring users the best insurance products every year. See full bio

Jessica Prasida's headshot
Co-written by

Travel Insurance Expert

Jessica Prasida brings a decade of experience in the travel industry, including over four years as a travel agent and branch manager at STA Travel. She holds a Bachelor of Business and a Master of Marketing from the University of Technology, Sydney, as well as a Tier 1 General Insurance qualification that complies with ASIC guidelines. An avid traveller herself, Jessica combines her professional expertise with a passion for ensuring safe and enjoyable journeys for all travellers. Jessica was a Travel Insurance Publisher at Finder from 2019 to 2024. See full bio

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